Shopify Inc SHOP was introduced to the public markets on the May 21. The Canadian e-commerce software company sold 7.7 million shares at the price of $17 per share, raising $131 million.
The technology stock has been performing fairly well, up nearly 15 percent since its public offering. Here's how Wall Street analysts initiated coverage:
- Keybanc: Sector Weight rating.
- Pacific Crest: Sector Weight rating.
- Credit Suisse: Outperform rating; $40 price target.
- Canaccord Genuity: Hold rating, $$30 price target.
- Morgan Stanley: Equal-Weight rating, $30 price target.
- Raymond James: Market Perform rating.
Summary: 2 Sector Weight, 1 Outperform, 1 Hold, 1 Equal-Weight, 1 Market Perform rating.
Shares of Shopify were up 6 percent Tuesday morning.
Davidstea Inc DTEA was announced public on June 5. The Canada-based tea retailer soared nearly 43 percent on its offering.
Here's how analysts initiated coverage on the stock:
- William Blair: Outperform rating.
- Bank of America: Neutral rating, $24 price target.
- BMO Capital: Market Perform rating, $21 price target.
- JP Morgan: Neutral rating, $24 price target.
- Goldman Sachs: Neutral rating, $21 price target.
Summary: 1 Outperform, 3 Neutral, 1 Market Perform rating.
The stock was down 4 percent Tuesday morning.
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